posted by admin on May 24
Does anyone here think its worth while filing bankruptcy ? I owe 95,000 on my house, which I am 3 months behind on. The house is probably worth Oooo lets say 45,000. I owe 8,000 on my car the car is worth probably 5,000 I have a credit card maxed out to 1,000 dollars.My g/f that is on the house with me she’s filing she has allot more debt then me. We already talk to an attorney.
I fell behind because my hours got cut back in July, I have been in contact with my loan people wells fargo seems like their working with me although I did get a foreclosure threat letter in the mail the other day.
Now triad Financial on the other hand I explained my situation they didn’t want to hear it. Ok so I quit my job I’ve been at for 5 yrs and go take a job for 4.00 an hr less that’s even if I get a job.
By the way I live in Michigan and I do work for a company that supplies the automakers.
I make 580.00 every 2 weeks my bills are:
125.00 a month heat
65.00 a month electric
937.00 a month house
237.00 a month car
150.00 a month insurance
95.00 a month health insurence
can anyone weigh in ??
May 24th, 2009 at 6:00 pm
Hi
If you file for bankruptcy I can tell you only some of the things that would help you out.If filled: for 1 thing all the interest that you owe will stop, You could file Chapter 13 and pay all your creditor’s back this will help you get reestablished. Now for your utility’s i don’t think you can fill on them just work out a pay plan with them.They have what you call a winter plan budget you can sign up for.good luck
May 24th, 2009 at 6:00 pm
Your dilemma stinks and you have consulted with a lawyer which is good. If you declare bankruptcy, you can walk away from the debt and hassle with the bill collectors. Your new wage is low and you will not be able to resolve the dilemma, as I can see.
If you declare bankruptcy you will have it on your credit file for a long time. 7 years. or more. But, you will break free of the stress and worry of today’s life and issues.
Things like a cell phone deposit could be $1000 or more if you declare bankruptcy. I did credit processing for the cell companies. If you want a car loan, you will have a higher finance charge. Keep this in mind.
I am here to explore your options. My next remark is this.
Tell your creditors you want to declare bankruptcy and they may give your a pay out. Could be xx on each dollar you owe. I also did collections for a cell phone company. They want the money, all companies want the money and may be willing to take xx on the $1.00.
So I hope you the best, I hope you have good health. And hope you can manage this effectively
My good luck to you on this holiday seasona and hopefully things will become more positive one day soon.